Daily Forex Outlook – March 30, 2017

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Updated: Mar 30, 2017, 11:11 UTC

The pair did not have any violent reaction post the announcement of the invocation of Article 50, which formally begins the Brexit process

EUR/USD

The pair continues to trade weakly as it gets closer to a strong support around the 1.07 region. We believe that this region will hold and as long as the neckline holds, we should believe that the pair continues to be in an uptrend and looking good for more. The overnight fall has taken it very close to the region and we need to watch it closely today to see what it does. …Read More

GBP/USD

The pair did not have any violent reaction post the announcement of the invocation of Article 50, which formally begins the Brexit process. Some of the traders had expected a much stronger reaction from the markets on the invocation but with this event marking the beginning of the long and hard Brexit process fraught with risks, the market has chosen to take a breather for now. …Read More

AUD/USD

The pair has been steady and its movements and price action have been a bit confusing this week as the dollar has strengthened across almost all the other currencies but against the AUD, the dollar still seems to be on the backfoot. The rising iron ore prices could be one of the reasons for that but it remains to be seen whether the pair can sustain its strength on the next round of dollar strength which may come anytime. …Read More

USD/JPY

The pair was on a weakening mode yesterday despite the strength in the dollar seen all across the board. The weaker stock markets, which were mixed in different parts of the world, and the general global risks and uncertainties could have contributed to the stronger yen. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.